WASHINGTON – U.S. Sen. Mark R. Warner (D-VA), Chairman of the Senate Select Committee on Intelligence, issued the following statement today:

“Earlier today, the U.S. Commerce Department reported that manufacturers that rely on semiconductor chips have less than five days’ supply on hand, leaving vital supply chains extremely vulnerable to delays that are increasing prices for consumers on everything from automobiles to home appliances. Months ago, the Senate passed the U.S. Innovation and Competition Act, which would invest $52 billion in domestic semiconductor production, by an overwhelming bipartisan vote. The Senate bill also invests in R&D for 5G technologies and takes other critical steps to secure our supply chains, improve innovation, and ensure that the U.S. can compete with China and the rest of the world. Today’s introduction in the House of Representatives of the America COMPETES Act is an important step in setting up a conference with the Senate so that we can finally get a bill to President Biden’s desk to sign.”

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